📢 BeWater Weekly (12.31–1.6)
🐟 Ecological Cooperation
(1) The BeWater website has launched two new features: BuilderBoard and Builder Profile - https://t.co/fKYlAXm628
(2) Supported by @BNBCHAIN, the first event of the "AI Agents on Chain" series developer innovation camp co-organized by @APRO_Oracle and BeWater, titled "AI Agents on BNB Chain: Standards, Innovation, Impact" Demo Day, will be held online on January 10.
(3) Supported by BeWater, the Web3 + AI Agent Bootcamp hosted by @AGIOpenNetwork will start on January 9.
📰 Key News
(1) Backpack Exchange acquires FTX EU, planning to launch in Q1 2025
Approved by the FTX bankruptcy court and CySEC, it has acquired the European branch of the defunct FTX exchange, FTX EU. This acquisition allows Backpack to expand its services in the EU, offering crypto derivatives such as perpetual futures, with plans to launch in Q1 2025. As part of the bankruptcy claims process, Backpack EU will be responsible for distributing funds to FTX EU customers, aiming to return funds quickly and securely.
(2) $Aave proposes to peg Ethena's USDe to USDT, sparking community opposition
$Aave's new proposal, co-authored by Chaos Labs and LlamaRisk, suggests pegging Ethena's USDe to Tether's USDT to protect users from market volatility. The proposal aims to keep the value of USDe aligned with USDT to avoid disruptions. It argues that a 5% drop in USDe's price could pose a risk to $Aave's $300 million USDe collateralized loans, potentially triggering collateral liquidations. The proposal suggests hard-coding USDe's price to USDT to mitigate this risk. $Aave users expressed skepticism, questioning the proposal's effectiveness in addressing fundamental risks. Concerns include potential extreme scenario risks and the rationale for pegging USDe to USDT instead of directly to $1.00.
(3) Base considers launching tokenized COIN stock
According to developer Jesse Pollak, Coinbase is exploring the possibility of offering tokenized shares of its stock COIN to U.S. users on its Ethereum Layer 2 network, Base. Non-U.S. users can already access tokenized COIN stock through platforms like Backed (a protocol for tokenizing real-world assets, RWA). Pollak emphasized that Coinbase is in the exploratory phase with no specific plans yet, as clarity from U.S. regulators is needed.
(4) Do Kwon pleads not guilty to charges that could result in 130 years in prison
Terraform Labs co-founder Do Kwon pleaded not guilty to nine counts of fraud in a New York federal court, facing a potential 130 years in prison. The U.S. Department of Justice accused Kwon of misrepresenting his cryptocurrency empire, including the operation of his stablecoin TerraUSD, and attempting to launder over $60 million.
(5) Telegram launches feature to convert digital gifts into NFTs
Telegram has launched a new feature that allows users to upgrade their digital gifts into non-fungible tokens (NFTs). Users can create and customize these NFTs (unique digital assets stored on the blockchain) and trade or auction them on NFT marketplaces. Each upgraded gift unlocks unique appearances, custom variations, and secondary characteristics, making some collectibles rarer than others.
📊 Data Performance
(1) The market capitalization of AI Meme Coin, the AI-inspired meme token, has surged to over $10 billion, with a 24-hour trading volume of $2.70 billion. Leading tokens include ai16z with a market cap of $2.60 billion and a weekly growth rate of 184%, Fartcoin with a market cap of $1.35 billion and a weekly growth rate of 38.2%, and Zerebro with a market cap of $765 million.
(2) According to DefiLlama data, on January 6, Solana's 24-hour DEX trading volume reached $3.80 billion, surpassing Ethereum's $1.70 billion and Base's $1.20 billion. Solana's position in DeFi is steadily increasing, with its total value locked (TVL) projected to grow from $1.40 billion to $9.50 billion by 2024. According to TradingView data, since 2023, Solana ($SOL) has outperformed Ether ($ETH) by about eight times. Among them, Solana's leading DEX Raydium had a 24-hour trading volume from January of 1.The $800 million is expected to grow to over $3 billion by December 31, 2024. Memecoin trading significantly drove Raydium's trading volume, accounting for 65% of its monthly trading volume in November. Solana's top memecoin platform https://t.co/qg0Cujpv6s generated nearly $250 million in trading volume over the past 30 days and ranked as the eighth highest blockchain protocol by revenue in November.
(3) Global net inflows into crypto funds reached a new high of $44.20 billion in 2024, surpassing the previous record of $10.50 billion set in 2021. Bitcoin ($BTC) was the main driver, contributing $38 billion, a significant increase from the $1.90 billion inflow in 2023. Ethereum ($ETH) also saw a substantial inflow of $4.80 billion, up 60 times from the $80 million in 2023. XRP's inflow was third, at $438 million, while multi-asset products and Solana ($SOL) attracted $257 million and $69 million, respectively. The surge in inflows is attributed to growing institutional interest, favorable market conditions, and increased regulatory transparency.
📚 Recommended Reading
(1) "A Comprehensive Review of the Popular Project Kaito: Product Development Context, Yap Flywheel, Entrepreneurial Insights" — Alex's personal YouTube, translated by Wu Says Blockchain
Abstract: This article focuses on the recent popular social product Kaito, exploring its product strategy, market background, and development logic. Alexon is the CIO of Ferryboat Research. By analyzing Kaito's choices on the Twitter platform and its characteristics in crypto social data collection, processing, and application, the article explains the reasons for its high pricing and core advantages. Additionally, it compares the directional explorations of similar projects, pointing out how Kaito successfully completed its strategic transformation and established a unique market position through API optimization, KOL mapping, and social binding mechanisms. Original link:
https://t.co/nxSqCdTKzC
Read more👇
https://t.co/1UK3DqIruQ